ALBERT

All Library Books, journals and Electronic Records Telegrafenberg

X
feed icon rss

Your email was sent successfully. Check your inbox.

An error occurred while sending the email. Please try again.

Proceed reservation?

Export
Filter
  • Articles  (113,744)
  • Springer  (113,744)
  • American Institute of Physics (AIP)
  • Economics  (103,927)
  • Information Science and Librarianship  (9,817)
Collection
Source
Keywords
Publisher
Years
Journal
Topic
  • 1
    Electronic Resource
    Electronic Resource
    On the development of group insurance and collective saving in the Federal Republic of Germany and in Great Britain (1978)
    Springer
    The Geneva risk and insurance review 10 (1978), S. 50-66 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02409807
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 2
    Electronic Resource
    Electronic Resource
    Social security versus private saving and insurance (1978)
    Springer
    The Geneva risk and insurance review 10 (1978), S. 44-49 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Conclusion For all these reasons, the rediscovery of the equivalence theorem, first stated by David Ricardo in 1817, must be rejected as an adequate basis for policy, just as Ricardo had denied its applicability to the real world. Correspondingly, the concern with the adverse consequences of unfunded social insurance wealth for the supply of national saving, capital intensity, and living standards remains well founded. p ]If, as a practical matter, public pension and social security programs will never be funded actuarially in the United States and most other postindustrial countries, then government-supervised substitution of private for public retirement plans is the only way to achieve at least partial funding. If such substitution follows the British model of allowing employers to contract out of the earnings-related part of the state scheme if equivalent pensions are provided by the company plan, payroll taxes and social security wealth decline so as to reduce their adverse impact on capital formation.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02409806
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 3
    Electronic Resource
    Electronic Resource
    The expansion of social security in Italy (1978)
    Springer
    The Geneva risk and insurance review 10 (1978), S. 73-84 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02409809
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 4
    Electronic Resource
    Electronic Resource
    Soziale sicherheit und staatsfinanzen (1978)
    Springer
    The Geneva risk and insurance review 10 (1978), S. 85-95 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02409810
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 5
    Electronic Resource
    Electronic Resource
    Problems of social under economic recession and inflation (1978)
    Springer
    The Geneva risk and insurance review 10 (1978), S. 96-98 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02409811
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 6
    Electronic Resource
    Electronic Resource
    The risk-sharing problem (1979)
    Springer
    The Geneva risk and insurance review 11 (1979), S. 5-13 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02426245
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 7
    Electronic Resource
    Electronic Resource
    La prévoyance dans l'economie italienne (1978)
    Springer
    The Geneva risk and insurance review 10 (1978), S. 67-72 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Summary: Social Policy in the Italian Economy Favourable social and economic conditions constitute the essential framework for a stable development of savings. Saving in the form of insurance becomes advantageous for the individual, and private insurance can thus extend its activity, when social attitudes and the economic situation favour the propensity to save. If conditions change, the State can take over the coverage of risks through social insurance. By means of this institutions, an anti-cyclical policy can be pursued: the amount of social security contributions, for instance, can be increased during the expansion of the cycle and the amounts thus accumulated can be used to grant benefits during the recession period, when contributions can be fixed at a lower percentage of wages. Another type of policy can be pursued by government authorities: that of adjusting social security contributions to industrial profits, thereby directing the subsequent effects on economic growth. Inflation cab cause instability in decisional policies taken by private insurance companies. A solution to the unbalanced increase of costs can be found in index-linking. Life policies of this kind, for instance, cab be closely related to investments in houses, to be bought by the insured themselves in price-linked instalments. After a reference to present developments regarding risk instability and to possibilities of new forms of insurance, this paper considers the competition resulting from the opening of the EEC insurance markets as an opportunity for the Italian market to strengthen its structures.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02409808
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 8
    Electronic Resource
    Electronic Resource
    Unemployment insurance: Risk sharing versus efficiency (1991)
    Springer
    The Geneva risk and insurance review 16 (1991), S. 59-74 
    Details
    ISSN: 1554-9658
    Keywords: Unemployment Insurance ; Risk Sharing ; Social Security
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Two models of spot labor markets are presented in which labor suppliers have heterogeneous attitudes towards effort and in which uncertainty prevails on labor productivity and growth. The problem of selecting efficient rules to manage unemployment insurance (UI) systems is considered. We show that there does not exist any system which combines an efficient allocation of labor with an efficient allocation of risks among employees, unemployed workers and capital-owners. Pareto-efficient policy rules are a best compromise between these two conflicting objectives. It implies that productive efficiency could be improved in periods of mass unemployment by reducing UI benefits. That would be at the expense of more inefficiencies in the sharing of macroeconomic risks. At the optimum, the UI benefit is positively correlated to growth and it is negatively correlated to labor productivity.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00942857
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 9
    Electronic Resource
    Electronic Resource
    A comment on social insurance (1991)
    Springer
    The Geneva risk and insurance review 16 (1991), S. 137-138 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02386302
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 10
    Electronic Resource
    Electronic Resource
    A comment on Professor Atkinson's lecture (1991)
    Springer
    The Geneva risk and insurance review 16 (1991), S. 139-141 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02386303
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 11
    Electronic Resource
    Electronic Resource
    Incentives, redistribution and social insurance (1991)
    Springer
    The Geneva risk and insurance review 16 (1991), S. 143-165 
    Details
    ISSN: 1554-9658
    Keywords: Social Insurance ; Redistribution ; Incentives
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract We extend the familiar income taxation model à la Mirrlees, so as to include income uncertainty, due for instance to a risk of illness. Following a line of research initiated by Blomqvist and Horn [1984] we prove that the existence of a Social Health Insurance system may be justified even when the insurance market is efficient. Moreover, if there is a negative statistical dependence between probability of illness and labor productivity, then the optimum of a Utilitarianist Social Welfare function implies that Social Insurance provides a complete coverage for every household.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02386304
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 12
    Electronic Resource
    Electronic Resource
    Risk taking and taxation in complete capital markets (1991)
    Springer
    The Geneva risk and insurance review 16 (1991), S. 167-177 
    Details
    ISSN: 1554-9658
    Keywords: Risk Taking ; Taxation ; Complete Conventional Securities Markets
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract In general equilibrium, with complete conventional securities markets and endogenous asset supply, taxes on risk remuneration are ineffective but harmless. They do not alter the real allocation of goods or the distribution of wealth, they impose no excess burden, and, in particular, have no impact on risk taking.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02386305
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 13
    Electronic Resource
    Electronic Resource
    Beneficial changes in random variables under multiple sources of risk and their comparative statics (1992)
    Springer
    The Geneva risk and insurance review 17 (1992), S. 7-191 
    Details
    ISSN: 1554-9658
    Keywords: Risk ; Insurance Demand ; Deterministic Transformations ; Stochastic Dominance ; Expected Utility
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract The consequences of a change in a random parameter are determined for a decision model with more than one source of randomness. The two cases of independent and stochastically dependent sources of risk are discussed. Four comparative static theorems are given. These state the effect of first degree stochastically dominant shifts or risk decreases for one random variable while the other random variable is held fixed. Deterministic transformations are used to represent random parameter changes. The results are presented in the context of the coinsurance demand model with a risky insurable asset and background risk.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00941954
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 14
    Electronic Resource
    Electronic Resource
    Comparative statics under multiple sources of risk with applications to insurance demand (1992)
    Springer
    The Geneva risk and insurance review 17 (1992), S. 21-33 
    Details
    ISSN: 1554-9658
    Keywords: Insurance Demand ; Multiple Sources of Risk ; Comparative Statics ; Increases in Risk
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract In this paper we propose an answer to the following problem of comparative statics in models with multiple sources of risk: How a risk averse agent will change his coinsurance demand when the distribution of the insurable loss is shifted? To answer the question, we first comment on Jack Meyer's results and then we show how an alternate approach leads to more definitive comparative statics.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00941955
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 15
    Electronic Resource
    Electronic Resource
    Pricing insurance and warranties: Ambiguity and correlated risks (1992)
    Springer
    The Geneva risk and insurance review 17 (1992), S. 35-60 
    Details
    ISSN: 1554-9658
    Keywords: Ambiguity ; Pricing ; Actuaries ; Decision Processes
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper reports on the results of a questionnaire study of pricing decisions made by professional actuaries when the probabilities of a loss are either ambiguous or nonambiguous. Theoretical hypotheses derived from the expected utility model were compared with the implications of procedures described by practicing actuaries. Actuaries were asked to act as consultants to a computer manufacturer concerning the price of a warranty. The suggested prices were considerably higher when probabilities were ambiguous than when they were well-specified. These pricing decisions were consistent with the procedures described by actuaries but inconsistent with predictions from expected utility theory when the risks are perfectly correlated. Further insight into the actual decision process is provided by interviews with actuaries and an analysis of comments written on the questionnaire forms.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00941956
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 16
    Electronic Resource
    Electronic Resource
    Saving under uncertainty: A bivariate non-expected utility approach (1992)
    Springer
    The Geneva risk and insurance review 17 (1992), S. 61-75 
    Details
    ISSN: 1554-9658
    Keywords: Saving ; Borrowing ; Increases in Risk Aversion ; Increases in Risk ; Multivariate NonExpected Utility Model
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract We adopt the multivariate non-expected utility approach proposed by Yaari [1986] to provide a characterization of the comparative statics effects of greater risk aversion and of mean-preserving increases in risk on saving and borrowing in the presence of income and interest rate risk. We show that in Yaari's model, it is possible to extend the applicability of the Diamond and Stiglitz [1974] and Kihlstrom and Mirman [1974] (DSKM) single-crossing property to establish a relationship between greater risk aversion and saving (or borrowing) on the basis of the individual's ordinal preferences as long as the two risks are independent. We also demonstrate that the comparative statics effects of a joint mean-preserving increase in random income and interest rate on saving and borrowing can be determined by an extension of the DSKM single-crossing property.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00941957
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 17
    Electronic Resource
    Electronic Resource
    State, security and insurance (1978)
    Springer
    The Geneva risk and insurance review 10 (1978), S. 3-43 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02409805
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 18
    Electronic Resource
    Electronic Resource
    Simulation of an automobile portfolio (1979)
    Springer
    The Geneva risk and insurance review 11 (1979), S. 40-46 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02426248
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 19
    Electronic Resource
    Electronic Resource
    A mathematical model of insurance business and how it may be used (1979)
    Springer
    The Geneva risk and insurance review 11 (1979), S. 34-39 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02426247
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 20
    Electronic Resource
    Electronic Resource
    The characteristics approach and its application to financial liabilities, financial assets and portfolio choice (1979)
    Springer
    The Geneva risk and insurance review 11 (1979), S. 52-62 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02426250
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 21
    Electronic Resource
    Electronic Resource
    Introduction (1979)
    Springer
    The Geneva risk and insurance review 12 (1979), S. 3-4 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02420937
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 22
    Electronic Resource
    Electronic Resource
    Human capital and risk-bearing (1979)
    Springer
    The Geneva risk and insurance review 12 (1979), S. 5-22 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02420938
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 23
    Electronic Resource
    Electronic Resource
    Competitive allocations when the asset market is incomplete (1990)
    Springer
    The Geneva risk and insurance review 15 (1990), S. 5-16 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01498457
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 24
    Electronic Resource
    Electronic Resource
    Non-informative rational expectations equilibria when assets are nominal: An example (1990)
    Springer
    The Geneva risk and insurance review 15 (1990), S. 73-79 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract When assets are nominal, non-informative rational expectations equilibria exist.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01498461
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 25
    Electronic Resource
    Electronic Resource
    Review of Peter Zweifel's bonus options in health insurance (1993)
    Springer
    The Geneva risk and insurance review 18 (1993), S. 103-105 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01125821
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 26
    Electronic Resource
    Electronic Resource
    Can additional information really have negative welfare effects? — a note on ARROW's risk allocation and information (1979)
    Springer
    The Geneva risk and insurance review 12 (1979), S. 23-25 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02420939
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 27
    Electronic Resource
    Electronic Resource
    Can additional information really have negative welfare effects: Reply (1979)
    Springer
    The Geneva risk and insurance review 12 (1979), S. 26-26 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02420940
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 28
    Electronic Resource
    Electronic Resource
    Reinsurers' investment and underwriting portfolios and the exchange rates risk (1979)
    Springer
    The Geneva risk and insurance review 11 (1979), S. 63-67 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Summary and concluding remarks The traditional analysis of the performance of large international reinsurers typically concentrates on the effect of exchange rates on profitability of the firm (NRG [9]). The multi-index model enables us to capture and analyze two additional effects: According to the Interest Rates Parity Theorem, the expected rates of return on foreign investments already reflect the expected change in the exchange rate. Therefore, a firm operating in a perfect market would be indifferent to the currency denomination of its financial assets. The firm should consider only the unexpected element in the exchange rate movements, i.e., the exchange risk. The uncertainty in the exchange rate contributes to the variability of the return on each investment and underwriting project. The firm must consider this new element of risk while constructing its investment and insurance portfolios. p ]The model can be used to examine and analyze alternative policies of the firm operating in international markets. For example, the model can be used to examine the “full hedge” policy, in which the insurer has a zero net position in any non-reference currency, or the policy of isolating national insurance markets.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02426251
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 29
    Electronic Resource
    Electronic Resource
    Studies in risk management examples of calculation of the value deducted (1979)
    Springer
    The Geneva risk and insurance review 13 (1979), S. 3-5 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02125888
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 30
    Electronic Resource
    Electronic Resource
    The economic risks of intermodal containerisation by 1988 (1979)
    Springer
    The Geneva risk and insurance review 13 (1979), S. 6-55 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02125889
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 31
    Electronic Resource
    Electronic Resource
    Les risques de pertes indirectes induites par les systèmes informatiques (1979)
    Springer
    The Geneva risk and insurance review 13 (1979), S. 56-84 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02125890
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 32
    Electronic Resource
    Electronic Resource
    European fire costs — The wasteful statistical gap (1979)
    Springer
    The Geneva risk and insurance review 13 (1979), S. 85-101 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02125891
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 33
    Electronic Resource
    Electronic Resource
    Solidity, leverage and the regulation of insurance companies (1979)
    Springer
    The Geneva risk and insurance review 14 (1979), S. 3-19 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02125361
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 34
    Electronic Resource
    Electronic Resource
    Reinsurance and foreign exchange risk (1979)
    Springer
    The Geneva risk and insurance review 14 (1979), S. 20-43 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02125362
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 35
    Electronic Resource
    Electronic Resource
    Functional relations between general economic indicators, premium income and claims costs in different insurance sectors (1979)
    Springer
    The Geneva risk and insurance review 14 (1979), S. 44-62 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02125363
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 36
    Electronic Resource
    Electronic Resource
    Modelling the investment behaviour of British life offices 1963–77 (1979)
    Springer
    The Geneva risk and insurance review 14 (1979), S. 63-72 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02125364
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 37
    Electronic Resource
    Electronic Resource
    The capital asset pricing model as a general equilibrium with incomplete markets (1990)
    Springer
    The Geneva risk and insurance review 15 (1990), S. 55-71 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract We recast the capital asset pricing model (CAPM) in the broader context of general equilibrium with incomplete markets (GEI). In this setting we give proofs of three properties of CAPM equilibria: they are efficient, asset prices lie on a “security market line”, and all agents hold the same two mutual funds. The first property requires a riskless asset, the latter two do not. We show that across all GEI only one of these three properties of equilibrium is generally valid: asset prices depend on covariances, not variances. We extend CAPM to many consumption goods in such a way that all three properties hold. But now the definition of a riskless asset depends on preferences and endowments, and so cannot be specifieda priori.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01498460
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 38
    Electronic Resource
    Electronic Resource
    Social insurance for work and product injuries (1990)
    Springer
    The Geneva risk and insurance review 15 (1990), S. 115-139 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01489705
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 39
    Electronic Resource
    Electronic Resource
    Indeterminacy of competitive equilibrium in incomplete market structures with financial assets as an extreme form of market coordination breakdown (1990)
    Springer
    The Geneva risk and insurance review 15 (1990), S. 81-109 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Market coordination breakdowns can be formulated in terms of Incomplete Market Structures, whatever is the assumption made about market power (monopoly or competition). When the assumption of competition is made, and financial assets generate an incomplete market structure, there are, generically, an infinite number of equilibria. It is shown that after embedding the model of incomplete markets in a more general model based on the absence of double coincidence of wants, a game theoretic concept of equilibrium, like the Core, allows us to prove an equivalence theorem, i.e. to show that indeterminacy is caused by the fact that the returns of financial assets have no direct utility.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01498462
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 40
    Electronic Resource
    Electronic Resource
    The double liability rule (1990)
    Springer
    The Geneva risk and insurance review 15 (1990), S. 159-169 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Conventional liability rules do not lead to a first best allocation. Optimal bilateral risk control can be achieved by not compensating any losses and, in addition, charging each party a fine equal to the loss suffered by the other party. In this way, each party internalizes the full accident loss. This paper investigates the properties of this “double liability” rule under risk neutrality and risk aversion of the parties. Finally the use of this rule in the context of multiple-party accidents is discussed.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01489707
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 41
    Electronic Resource
    Electronic Resource
    Unemployment insurance and incentives (1990)
    Springer
    The Geneva risk and insurance review 15 (1990), S. 141-157 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract In this paper we present a partial economic equilibrium model of the labor market in which we maximize the workers' expected discounted utility level, while implying a zero expected profit for the firms. The model we use for the labor market takes into consideration transitions between the various states of employment and the time periods spent in each state. The probability distribution of these time periods may be arbitrary, not restricted to being exponential, as is the case for ordinary time-continuous Markov processes. The basic principles and difficulties arising from monitoring problems and moral hazard are discussed. In order to analyze unemployment insurance schemes that include incentives for workers to avoid unemployment, we depart from the simplest form of the principle of equivalence in insurance. Several different alternatives are discussed, all giving rise to partial insurance and thus incentives. We also analyze the effects that early retirement have on unemployment. Here, we include social security benefits in the economic model. Finally, we show that the optimal solutions entail quantity rationing.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01489706
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 42
    Electronic Resource
    Electronic Resource
    Exclusive vs. Independent agencies: A comparison of performance (1990)
    Springer
    The Geneva risk and insurance review 15 (1990), S. 171-192 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract A peculiar feature of insurance is its marketing through a variety of channels about whose performance rather little is known. This paper examines two of the more important variants prevailing in Continental Europe, exclusive and independent agencies (the latter typically having contractual relationships with several companies). Two types of contract governing their behavior are examined for their incentives in terms of growth and cost control. Data covering insurance agencies of both types operating in the Swiss market are used to test for differences while holding constant contract provisions operating on the revenue side. The hypothesis that exclusive agents are less concerned about cost control than independent agencies receives a large measure of confirmation, while no evidence of better performance both in terms of growth and loss ratio can be found.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01489708
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 43
    Electronic Resource
    Electronic Resource
    Review Article of Drèze's essays on economic decisions under uncertainty (1990)
    Springer
    The Geneva risk and insurance review 15 (1990), S. 193-202 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Conclusion Jacques Drèze has participated significantly in many fields of economic analysis. The book we have reviewed is limited to his main contributions to the economics of uncertainty and information. It is rich in ideas, models, and results for graduate students and researchers who are interested in this now basic dimension of economic analysis. We hope that its publication will permit the public at large to better appreciate the importance of its author's contributions.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01489709
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 44
    Electronic Resource
    Electronic Resource
    Index forThe Geneva Papers on Risk and Insurance, 1976 Through 1989 (1991)
    Springer
    The Geneva risk and insurance review 16 (1991), S. 75-102 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00942858
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 45
    Electronic Resource
    Electronic Resource
    Reliability of risk management: Market insurance, self-insurance and self-protection reconsidered (1991)
    Springer
    The Geneva risk and insurance review 16 (1991), S. 45-58 
    Details
    ISSN: 1554-9658
    Keywords: Default Risk ; Reliability ; Risk Aversion ; Risk Management
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper examines the three main tools of risk management in a setting where reliability cannot be guaranteed. Thus, for example, insurers might be insolvent, sprinkler systems might be inoperative and alarm systems might be faulty. These types of nonreliability are shown to have significant consequences for risk management. In particular, the relationships between increased risk aversion and the use of the various risk management tools do not carry over from models with full reliability. Moreover, the well-known result of Ehrlich and Becker, that market insurance and selfinsurance are substitutes, is shown to fail in the presence of nonreliability risk.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00942856
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 46
    Electronic Resource
    Electronic Resource
    Multivariate risk aversion and uninsurable risks: Theory and applications (1991)
    Springer
    The Geneva risk and insurance review 16 (1991), S. 7-43 
    Details
    ISSN: 1554-9658
    Keywords: Multivariate Risk Aversion ; Uninsurable Risks ; Global Interpersonal Comparisons of Attitudes Towards Risk ; Multivariate Risk-Sharing ; Expected Utility ; Non-Expected Utility
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract The objective of this paper is to develop conditions for global multivariate comparative risk aversion in the presence of uninsurable, or background, risks, and thus generalize Kihlstrom and Mirman [1974] and Karni [1979,1989]. We analyze von Neumann-Morgenstern (VNM) utility functionsas well as smooth preference functionals which are nonlinear in distribution but locally linear in probabilities. In each case we provide an economic application which illustrates how our theorems can be used. We analyze a risk sharing, a portfolio choice, and a labor supply problem for VNM utility functions, and the optimal allocation of effort to risky technologies in the presence of a random supply (or quality) of a public good for nonlinear preference functionals. We consider thecase where the random variables are mean-independent as well as the case where they are independent. In the labor supply application for VNM utility functions, we show that if the two risks are independent, the comparative statics effect of greater risk aversion on labor supply in the presence of a background non-wage income risk is determined by a monotonic relationship between labor supply and the wage rate under certainty. That is, we extend the applicability of the Diamond-Stiglitz [1974]-Kihlstrom-Mirman [1974]single-crossing property to the case where an independent background risk is present.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00942855
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 47
    Electronic Resource
    Electronic Resource
    Social insurance (1991)
    Springer
    The Geneva risk and insurance review 16 (1991), S. 113-131 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02386300
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 48
    Electronic Resource
    Electronic Resource
    Social insurance and social security: A comment on Professor Atkinson's lecture (1991)
    Springer
    The Geneva risk and insurance review 16 (1991), S. 133-135 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02386301
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 49
    Electronic Resource
    Electronic Resource
    Review article of Von Furstenberg'sActing under Uncertainty: Multidisciplinary Conceptions (1991)
    Springer
    The Geneva risk and insurance review 16 (1991), S. 201-203 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02386307
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 50
    Electronic Resource
    Electronic Resource
    International P/L insurance output, input, and productivity comparisons (1991)
    Springer
    The Geneva risk and insurance review 16 (1991), S. 179-200 
    Details
    ISSN: 1554-9658
    Keywords: Divisia Index ; Productivity ; Insurance ; Translog
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This research provides (bilateral) divisia and multilateral divisia indexes of output, input, and productivity for the property-liability (P-L) insurance industry for the following countries: United States, West Germany, Switzerland, France, and Japan. The time period studied is 1975 to 1987. The results indicate that considerable diversity exists among different countries, with Japan showing the weakest productivity growth. The United States and West Germany are associated overall with high productivity.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02386306
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 51
    Electronic Resource
    Electronic Resource
    Equilibrium in risk bearing: Different implications of alternative interpretations (1979)
    Springer
    The Geneva risk and insurance review 11 (1979), S. 14-33 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02426246
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 52
    Electronic Resource
    Electronic Resource
    Determination of the amounts available for long-term investment in an insurance company (1979)
    Springer
    The Geneva risk and insurance review 11 (1979), S. 47-51 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02426249
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 53
    Electronic Resource
    Electronic Resource
    Economists in the insurance industry (1979)
    Springer
    The Geneva risk and insurance review 14 (1979), S. 73-79 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Conclusions The emergence of economists in the insurance industry is only a symptom of a profound change in the market reality which the industry, especially in the U.K. with its worldwide ramifications of business interests, is facing now. This change, brought about by a sudden appearance of purely economic aspects of insurance activities, links up firmly the insurance proper with solely financial operations of the industry. It also widens very considerably both the range of factors relevant to underwriting and overall policy decisions and extends the time dimension of business analysis. It is this complexity of the background to the decision-making process that is responsible for a growing trend towards corporate planning within which economists have a vital role to play.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02125365
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 54
    Electronic Resource
    Electronic Resource
    Incomplete markets and incentives to set up an options exchange (1990)
    Springer
    The Geneva risk and insurance review 15 (1990), S. 17-46 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Traditional analyses with incomplete markets take the securities that are traded as exogenous. In this paper we endogenize the market structure by considering incentives to introduce (costly) options exchanges which issue derivative securities. The method of financing the exchange is critical in determining whether the market structure is socially efficient. If the exchange can charge fees to all agents and make every agent's participation a necessary condition for establishing the exchange then the market structure chosen in equilibrium is efficient. However, if either of these conditions is not satisfied then an inefficient market structure may be chosen.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01498458
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 55
    Electronic Resource
    Electronic Resource
    Financial innovation, values and volatilities when markets are incomplete (1990)
    Springer
    The Geneva risk and insurance review 15 (1990), S. 47-53 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract The traditional pricing methodology in finance values derivative securities as redundant assets that have no impact on equilibrium prices and allocations. This paper considers a model with incomplete markets in which the valuation of derivative securities cannot be treated independently from the valuation of the primary securities. The model constitutes a framework for the analysis of the consequences of financial innovation (creation of new contracts or modification of existing contracts). We provide a numerical counterexample to the popular belief that financial innovations that increase the volatilities of traded securities are “bad”. In this example the introduction of an option increases the volatility of the rate of return on the underlying stock, yet the creation of this asset is unanimously supported by investors.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01498459
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 56
    Electronic Resource
    Electronic Resource
    Economic behaviour of the firm and prevention of occupational injuries (1992)
    Springer
    The Geneva risk and insurance review 17 (1992), S. 77-851 
    Details
    ISSN: 1554-9658
    Keywords: Preventive Investment ; Employment Level ; Occupational Injuries ; Compensation ; Firm Strategy
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract In this paper an economic model of the firm's behaviour is presented, examining the interrelationship between prevention activities and employment level. A competitive firm with a fixed capital stock is considered. Two decisions must be made: the level of employment of homogeneous workers (L) and the level of prevention activities (I). Although many simplifying assumptions are adopted, the impact of wage rate and compensation level on both decision variables is sign ambiguous. Moreover the case where injured workers are irreplaceable is more difficult than its counterpart with perfect substitutability.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00941958
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 57
    Electronic Resource
    Electronic Resource
    Commitment problems justify subsidies for medical insurance (1992)
    Springer
    The Geneva risk and insurance review 17 (1992), S. 137-145 
    Details
    ISSN: 1554-9658
    Keywords: Insurance ; Commitment ; Subsidy
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Consumers who believe that government will provide them with some public medical care, even if they did not purchase medical insurance, may choose to purchase no such insurance. The amount of medical care consumed will then be less than the first-best optimum. Under specified conditions government can then increase the welfare of consumers by subsidizing insurance, or by providing public health care at a more generous level than the minimum it would otherwise give.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00962710
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 58
    Electronic Resource
    Electronic Resource
    Self-Protection in the expected-utility-of-wealth model: An impossibility theorem (1992)
    Springer
    The Geneva risk and insurance review 17 (1992), S. 147-158 
    Details
    ISSN: 1554-9658
    Keywords: Self-Protection ; Expected Utility
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract We investigate the possibility of ordering expected utility-of-wealth maximizers according to their propensities to purchase self-protection. We define one agent as “more cautious” than another (toward a loss of specific size given a specific initial wealth) if the first agent would spend more on self-protection than the other, so long- as the technological relationship between spending and loss probability belongs to a broad class of functions. We show that the expected-utility-of-wealth model does not allow for the possibility that one agent could be “more cautious” than another.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00962711
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 59
    Electronic Resource
    Electronic Resource
    Dynamic equilibrium and the structure of premiums in a reinsurance market (1992)
    Springer
    The Geneva risk and insurance review 17 (1992), S. 93-136 
    Details
    ISSN: 1554-9658
    Keywords: Reinsurance ; Exchange Equilibrium ; Intertemporal Economic Model ; Market Marginal Utility Process ; Densities for Stochastic Processes ; Random Measure ; Marked Point Processes ; Dynamic Optimization ; Term Structure of Interest Rates ; Incomplete Models ; Non-Proportional Treaties
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract In this paper we present an economic equilibrium analysis of a reinsurance market. The continuous-time model contains the principal components of uncertainty; about the time instants at which accidents take place, and about claim sizes given that accidents have occurred. We give sufficient conditions on preferences for a general equilibrium to exist, with a Pareto optimal allocation, and derive the premium functional via a representative agent pricing theory. The marginal utility process of the reinsurance market is represented by the density process for random measures, which opens up for numerous applications to premium calculations, some of which are presented in the last section. The Hamilton-Jacobi-Bellman equations of individual dynamic optimization are established for proportional treaties, and the term structure of interest rates is found in this reinsurance syndicate. The paper attempts to reach a synthesis between the classical actuarial risk theory of insurance, in which virtually no economic reasoning takes place but where the net reserve is represented by a stochastic process, and the theory of equilibrium price formation at the heart of the economics of uncertainty.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00962709
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 60
    Electronic Resource
    Electronic Resource
    Multivariate risk aversion and intertemporal substitution (1992)
    Springer
    The Geneva risk and insurance review 17 (1992), S. 159-169 
    Details
    ISSN: 1554-9658
    Keywords: Multivariate Risk Aversion ; Intertemporal Substitution
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Researchers often assume that preferences over uncertain consumption streams are representable by $$E\left[ {\left( {{1 \mathord{\left/ {\vphantom {1 \gamma }} \right. \kern-\nulldelimiterspace} \gamma }} \right)\sum\limits_{t = 0}^x {\delta ^t \tilde c_t^\gamma } } \right]$$ , where $$\tilde c_t $$ , is (random) period t consumption. It is moreover often asserted that estimates of γ cannot be unambiguously interpreted, since the quantity 1 − γ measures both relative risk aversion and the reciprocal of the elasticity of substitution. Clearly, this ambiguity arises only if 1 − γ indeed measures risk aversion. Although changes in γ cannot reflect changes in risk aversion according to standard definitions of comparative multivariate risk aversion, we show that γ is rationalizable as a risk aversion measure provided that the “acceptance set” of sure prospects is restricted. We also show, however, that there is essentially no relationship between changes in γ and optimal consumption, even in a simple two period model; this finding casts doubt upon the interpretation of γ as a risk aversion measure.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00962712
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 61
    Electronic Resource
    Electronic Resource
    A note on beneficial changes in random variables (1992)
    Springer
    The Geneva risk and insurance review 17 (1992), S. 171-179 
    Details
    ISSN: 1554-9658
    Keywords: Demand for Insurance ; Risk Aversion ; First-Degree Stochastic Dominance Shifts ; Mean-Preserving Shifts
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper is an extension of Jack Meyer's paper titled “Beneficial Changes in Random Variables Under Multiple Sources of Risk and Their Comparative Statics” published in the June 1992 issue of this journal. The extension consists of showing which of the sufficient conditions in Meyer's Theorems 1 and 3 are also necessary, and which are not. In addition, conditions are provided which are necessary and sufficient for general beneficial changes to imply a decrease in the demand for insurance.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF00962713
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 62
    Electronic Resource
    Electronic Resource
    Aspects of insurance, intermediation and finance (1993)
    Springer
    The Geneva risk and insurance review 18 (1993), S. 7-30 
    Details
    ISSN: 1554-9658
    Keywords: Insurance ; Intermediation ; Finance ; with Profits Policies
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper is concerned with the role of the insurance company as a financial intermediary which offers securities to uninformed retail investors. The search costs of retail investors cause the demand for the securities offered by intermediaries to be inelastic, making possible an intermediary spread, the difference between the returns on primary securities and the rates offered on the secondary securities sold by intermediaries. It is argued that the intermediary spread is economically significant, and a simple model of its determination is offered: the spread is shown to be an increasing function of interest rates. The bonus policy of life insurance companies is analyzed and is shown to be inefficient under simple assumptions about asset returns.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01125816
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 63
    Electronic Resource
    Electronic Resource
    Product price and advice quality: Implications of the commission system in life assurance (1993)
    Springer
    The Geneva risk and insurance review 18 (1993), S. 31-53 
    Details
    ISSN: 1554-9658
    Keywords: Advice quality ; Brokers' commissions ; Life assurance
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract The paper examines the implications of the commission system for the price of life assurance products and the quality of advice provided by brokers. The competitive equilibrium is shown to be neither first best nor second best efficient. The sources of the inefficiencies are examined and the effects of policy measures considered.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01125817
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 64
    Electronic Resource
    Electronic Resource
    A normative analysis of capital income taxes in the presence of aggregate risk (1993)
    Springer
    The Geneva risk and insurance review 18 (1993), S. 55-76 
    Details
    ISSN: 1554-9658
    Keywords: Capital Income Taxation ; Optimal Taxation ; Risk-Taking
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract A simple portfolio model is used to examine the efficiency effects of capital income taxes when the economy faces aggregate risk. To achieve a first best optimum the use of state contingent lump sum taxes is required. Through the tax policy the riskiness of total consumption is partly assigned to the private consumption and partly to the public consumption. State independent income taxes may generate a misallocation of risk and distort the allocation of resources between assets. The second best optimum, representing a trade-off between these inefficiencies, is characterized. Uniform taxation is shown to be optimal only in very special cases. Finally, the second best optimality rule for public consumption is extended to the case of uncertainty.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01125818
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 65
    Electronic Resource
    Electronic Resource
    The economics of delegated regulation: The EEC and the case of insurance (1993)
    Springer
    The Geneva risk and insurance review 18 (1993), S. 77-91 
    Details
    ISSN: 1554-9658
    Keywords: Regulation ; Insurance ; European Economic Community
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract It is the stated objective of the European Commission to open hitherto protected industries to international competition by the end of 1992. To this end, national governments have ceded regulatory authority over insurance to the Commission. Rather surprisingly however, the Commission in its turn appears to delegate this authority to insurance associations in EEC member countries. In this contribution, an attempt is made to explain why a supranational government might take the dual decision not to wield newly-won powers and to choose industry associations rather than governments as its partners in the regulatory process. The paper also sheds some light on the implications of such delegated regulation both for the Commission and insurers.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01125819
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 66
    Electronic Resource
    Electronic Resource
    Freedom of services and competition in insurance markets: A note (1993)
    Springer
    The Geneva risk and insurance review 18 (1993), S. 93-101 
    Details
    ISSN: 1554-9658
    Keywords: Freedom of Services ; Demand Diversion ; Demand Creation
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract We study entry in markets which are characterized by adverse selection. The analysis is motivated by the introduction of freedom of services in insurance markets at the European Community (EC) level. We assume that entrants in each domestic market (large multinational firms) are more efficient due to scale/scope economies but suffer an informational disadvantage. Incumbent firms, on the other hand, have perfect information about risks but incur higher production costs. We show there may exist competitive equilibria in which both types of firms coexist. The idea is that each technology trades-off production costs with information costs.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01125820
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 67
    Electronic Resource
    Electronic Resource
    Actuarial pricing of deposit insurance (1993)
    Springer
    The Geneva risk and insurance review 18 (1993), S. 111-130 
    Details
    ISSN: 1554-9658
    Keywords: Deposit Insurance ; Option Pricing ; Asset Liability Management ; Interest-Rate Risk
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Using a pricing formula for options on coupon bonds (Jamshidian [1989], El Karoui and Rochet [1990]) we are able to compute the actuarial pricing of deposit insurance for a commercial bank. Our formula takes into account the maturity structure of the bank's balance sheet, as well as market parameters such as the term structure of interest rates and the volatilities of zero coupon bonds. The relation with asset liability management methods is explored.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01111465
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 68
    Electronic Resource
    Electronic Resource
    Self-insurance and self-protection: A nonexpected utility analysis (1993)
    Springer
    The Geneva risk and insurance review 18 (1993), S. 131-146 
    Details
    ISSN: 1554-9658
    Keywords: Self-Insurance ; Self-Protection ; Rank-Dependent Utility ; Limited Liability
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper studies the comparative statics of self-insurance and self-protection for individuals with rank-dependent expected utility preferences. In particular, proportional wealth risks, background risk, and limited liability are considered. Limited liability has a major impact on self-insurance and self-protection. It can reverse seemingly robust comparative static results for the case of self-insurance and can eliminate some puzzling ambiguities for the case of self-protection.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01111466
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 69
    Electronic Resource
    Electronic Resource
    Financing and the demand for corporate insurance (1993)
    Springer
    The Geneva risk and insurance review 18 (1993), S. 147-171 
    Details
    ISSN: 1554-9658
    Keywords: Adverse Selection ; Corporate Insurance ; Signaling
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract In this paper we examine the insurance decision of a firm with private information regarding its cash flows and insurable losses. We show that, even in the absence of bankruptcy costs and information production by insurers, the firm's attempts to hedge its information risk can induce it to demand insurance. If higher operating revenues are accompanied by a lower insurance risk, the firm will choose to self-insure. In contrast, if higher operating revenues are accompanied by a higher insurance risk, the firm will demand insurance. In fact, if its insurable losses are relatively small, the firm will fully insure its losses. Further, if there exists considerable uncertainty regarding the firm's insurance risk, the level of coverage demanded by the firm is dependent on its private information, with higher levels of coverage signaling favorable information regarding the firm's future operations.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01111467
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 70
    Electronic Resource
    Electronic Resource
    Adverse selection when loss severities differ: First-best and costly equilibria (1993)
    Springer
    The Geneva risk and insurance review 18 (1993), S. 173-182 
    Details
    ISSN: 1554-9658
    Keywords: Adverse Selection ; First Best ; Information ; Loss Severity ; Nash Equilibrium ; Observability ; Second Best ; Self-Selection
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract With information asymmetry between contracting parties, adverse selection may result. A separation may be achieved if low-risk types can signal their identity—for example, by selecting from a menu of price-quantity contracts. In such models, signaling is costly and solutions are, at best, second best. These models characterize risk types by differences in the probability, rather than in severity, of the costs they impose. However, when severity differences also are considered, first best solutions become feasible. We identify the circumstances in which costly separating equilibria prevail and those in which full-information equilibria can be attained.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01111468
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 71
    Electronic Resource
    Electronic Resource
    Review of Harald A. Benink'sFinancial Integration in Europe (1993)
    Springer
    The Geneva risk and insurance review 18 (1993), S. 183-184 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01111469
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 72
    Electronic Resource
    Electronic Resource
    Call for papers (1993)
    Springer
    The Geneva risk and insurance review 18 (1993), S. V 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01111470
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 73
    Electronic Resource
    Electronic Resource
    Prices and returns on paintings: An exercise on how to price the priceless (1994)
    Springer
    The Geneva risk and insurance review 19 (1994), S. 7-21 
    Details
    ISSN: 1554-9658
    Keywords: Economics of the art market ; price index ; financial markets
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Art is priceless, but paintings, and other objects, have been sold on markets since the time of the Roman Empire. In this paper, we describe a method for constructing a price index for paintings and compare this index to the indices of various financial markets. In particular, we discuss whether the price of art is related to financial markets, whether the art market is weakly efficient, and whether it is more or less risky than financial markets.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01112011
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 74
    Electronic Resource
    Electronic Resource
    Risky production processes and demand for preventive safety measures under uncertainty (1994)
    Springer
    The Geneva risk and insurance review 19 (1994), S. 35-51 
    Details
    ISSN: 1554-9658
    Keywords: Preventive investment ; occupational injuries ; compensation ; risk-aversion
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper analyzes the behavior of a competitive risk-averse firm that has to choose the optimal level of labor and preventive safety measures. If the firm's injury function includes a random component, then the firm is characterized by a lower demand for labor and by a higher demand for safety measures with respect to a firm whose injury risk is completely under its control. The comparative statics show that shifts in the parameters of the risk distribution will have effects that depend on the absolute risk-aversion functions. The introduction of safety standards will prompt a reduction in the demand for labor while a tightening of the compensation system will have ambiguous effects on the demand for the two inputs.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01112013
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 75
    Electronic Resource
    Electronic Resource
    Life insurance in a contingent claim framework: Pricing and regulatory implications (1994)
    Springer
    The Geneva risk and insurance review 19 (1994), S. 53-72 
    Details
    ISSN: 1554-9658
    Keywords: Life insurance ; asset-liability management ; solvency
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract In this paper we develop a contingent claim model to evaluate the equity and liabilities of a life insurance company. The limited liability of shareholders is explicitly modelled. We focus on a specific type of life insurance policy—namely, the profit-sharing policy. In this policy, the policyholder is entitled to a guaranteed interest rate and a percentage of the company's yearly financial revenues. The implicit equilibrium interest rate and profit-sharing ratio are derived and analyzed. We finally discuss regulatory measures frequently encountered in the life insurance business such as rate ceilings, capital ratios, and asset restrictions.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01112014
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 76
    Electronic Resource
    Electronic Resource
    The Spillover effect of compulsory insurance (1994)
    Springer
    The Geneva risk and insurance review 19 (1994), S. 23-34 
    Details
    ISSN: 1554-9658
    Keywords: Insurance demand ; multiple sources of risk ; compulsory insurance ; standard risk aversion ; prudence
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract The assumption usually made in the insurance literature that risks are always insurable at the desired level does not hold in the real world: some risks are not—or are only partially—insurable, while others, such as civil liability or health and workers' injuries, must be fully insured or at least covered for a specific amount. We examine in this paper conditions under which a reduction in the constrained level of insurance for one risk increases the demand of insurance for another independent risk. We show that it is necessary to sign the fourth derivative of the utility function to obtain an unambiguous spillover effect. Three different sufficient conditions are derived if the expected value of the exogenous risk is zero. The first condition is that risk aversion be standard—that is, that absolute risk aversion and absolute prudence be decreasing. The second condition is that absolute risk aversion be decreasing and convex. The third condition is that both the third and the fourth derivatives of the utility function be negative. If the expected value of the exogenous risk is positive, a wealth effect is added to the picture, which goes in the opposite direction if absolute risk aversion is decreasing.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01112012
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 77
    Electronic Resource
    Electronic Resource
    Review of the social response to environmental risk (1994)
    Springer
    The Geneva risk and insurance review 19 (1994), S. 73-76 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01112015
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 78
    Electronic Resource
    Electronic Resource
    Call for papers (1994)
    Springer
    The Geneva risk and insurance review 19 (1994), S. I 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01112016
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 79
    Electronic Resource
    Electronic Resource
    Social protection and private insurance: A comment on professor Pestieau's lecture (1994)
    Springer
    The Geneva risk and insurance review 19 (1994), S. 93-95 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01371685
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 80
    Electronic Resource
    Electronic Resource
    A discussion of social protection and private insurance (1994)
    Springer
    The Geneva risk and insurance review 19 (1994), S. 97-99 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01371686
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 81
    Electronic Resource
    Electronic Resource
    Social protection and private insurance: Reassessing the role of public sector versus private sector in insurance (1994)
    Springer
    The Geneva risk and insurance review 19 (1994), S. 81-92 
    Details
    ISSN: 1554-9658
    Keywords: Social insurance ; Redistribution ; Welfare state
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper first discusses the standard reasons why private insurance cannot be expected to function well and why public intervention in or public provision of insurance can improve on private market outcomes. These arguments are based on efficiency but also on equity considerations. Then the paper turns to new developments in modern societies that might affect the balance between social and private insurance. They pertain to the current working of labor markets, to the openness of our economies and the ensuing fiscal competition, and to the crediblity and commitment problems faced by the state. The paper concludes that the public sector will find it less and less affordable to provide both insurance and assistance and recommends that it focus on the latter objective by awarding tax-financed uniform benefits on the basis of specified contingencies.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01371684
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 82
    Electronic Resource
    Electronic Resource
    Equilibrium in a reinsurance market: Introducing taxes (1994)
    Springer
    The Geneva risk and insurance review 19 (1994), S. 101-117 
    Details
    ISSN: 1554-9658
    Keywords: Reinsurance ; Profit taxation ; Optimal risk sharing ; Solvency ratios
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract We introduce profit taxation in Borch's [1962] model of a competitive insurance market. We analyze the impact of taxation on equilibrium prices and characterize the cases where optimal risk sharing is preserved. In the case of Constant Relative Risk Aversion (CRRA) utility functions, this abstract characterization is translated into simple conditions involving the solvency ratios of the companies. The case of Constant Absolute Risk Aversion (CARA) utility functions is also studied.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01371687
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 83
    Electronic Resource
    Electronic Resource
    On financial guarantee insurance under stochastic interest rates (1994)
    Springer
    The Geneva risk and insurance review 19 (1994), S. 119-137 
    Details
    ISSN: 1554-9658
    Keywords: Financial guarantees ; Default risk ; Interest-rate risk ; Credit enhancement ; Private and public guarantees ; Deposit insurance ; Contingent claims analysis
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract We extend the financial guarantee insurance literature by modeling, under stochastic interest rates, private financial guarantees when the guarantor potentially defaults. By performing numerical simulations under plausible parameters values, we characterize the differential impact of the incorporation of stochasticity of interest rates on the valuation of both public and private guarantees.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01371688
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 84
    Electronic Resource
    Electronic Resource
    Review Article of Devolder's Finance Stochastique (1994)
    Springer
    The Geneva risk and insurance review 19 (1994), S. 153-156 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01371690
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 85
    Electronic Resource
    Electronic Resource
    Introduction (1976)
    Springer
    The Geneva risk and insurance review 2 (1976), S. 3-4 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02420932
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 86
    Electronic Resource
    Electronic Resource
    Optimal insurance contracts when establishing the amount of losses is costly (1994)
    Springer
    The Geneva risk and insurance review 19 (1994), S. 139-152 
    Details
    ISSN: 1554-9658
    Keywords: Insurance policy characteristics ; insurance claims ; asymmetric information
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract The problem of establishing the amount of losses covered by public and private insurance is often characterized by asymmetric information, in which the claimant already knows the extent of a loss but this can be demonstrated to the insurer only at a cost. It is shown that a simple arrangement, which provides greater coverage whenever individuals demonstrate high losses, gives claimants an excessive incentive to establish the amount of their losses. This paper determines what insurance claims process, consistent with the form typically employed in existing insurance arrangements, is optimal.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01371689
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 87
    Electronic Resource
    Electronic Resource
    A macro-economic approach to risk management (1976)
    Springer
    The Geneva risk and insurance review 2 (1976), S. 5-9 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02420933
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 88
    Electronic Resource
    Electronic Resource
    The changing face of risk management (1976)
    Springer
    The Geneva risk and insurance review 2 (1976), S. 10-13 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02420934
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 89
    Electronic Resource
    Electronic Resource
    Les objectifs du risk management (1976)
    Springer
    The Geneva risk and insurance review 2 (1976), S. 16-26 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02420935
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 90
    Electronic Resource
    Electronic Resource
    A survey of the practice of risk management in West Europe companies (1976)
    Springer
    The Geneva risk and insurance review 2 (1976), S. 27-55 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF02420936
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 91
    Electronic Resource
    Electronic Resource
    Introductory note (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 7-8 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01098955
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 92
    Electronic Resource
    Electronic Resource
    Editor's note (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 5-5 
    Details
    ISSN: 1554-9658
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01098954
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 93
    Electronic Resource
    Electronic Resource
    Non-expected utility and the robustness of the classical insurance paradigm (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 9-50 
    Details
    ISSN: 1554-9658
    Keywords: insurance ; risk sharing ; non-expected utility
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper uses the tools and techniques of generalized expected utility analysis to explore the robustness of some of the classical basic results in insurance theory to departures from the expected utility hypothesis on agents' risk preferences. The areas explored consist of individual demand for coinsurance and deductible insurance, the structure of Pareto-efficient bilateral insurance contracts, the structure of Pareto-efficient multilateral risk-sharing agreements, and self-insurance and self-protection. Most, though not all, of the basic results in this area are found to be quite robust to dropping the expected utility hypothesis.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01098956
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 94
    Electronic Resource
    Electronic Resource
    Non-expected utility and the robustness of the classical insurance paradigm: Discussion (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 51-56 
    Details
    ISSN: 1554-9658
    Keywords: non-expected utility ; insurance economics
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper discusses some aspects of the robustness of the classical insurance paradigm with respect to departures from the independence axiom of expected utility theory. The discussion focuses on the significance of the distinction between risk aversion and outcome convexity and the role of smoothness of the preferences in non-expected-utility analysis of insurance.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01098957
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 95
    Electronic Resource
    Electronic Resource
    The comparative statics of deductible insurance in expected- and non-expected-utility theories (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 57-72 
    Details
    ISSN: 1554-9658
    Keywords: deductible insurance ; non-expected utility theory
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper identifies comparative statics results for insurance contracts that distinguish between various models of decision making under risk—specifically, expected utility, rank-dependent expected utility, and weighted utility. Insurance contracts offer full coverage above a deductible. Firms offer premium schedules that give the premium charged as a function of the deductible; households choose both an insurance company and a deductible to maximize utility. A competitive equilibrium requires zero expected profit for firms. We identify changes in the distribution of losses such that the optimal deductible increases for utility representations in a particular class but decreases for some representations outside that class. We give results both for the demand for insurance, as well as for the equilibrium contract.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01098958
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 96
    Electronic Resource
    Electronic Resource
    Risk-aversion concepts in expected- and non-expected-utility models (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 73-91 
    Details
    ISSN: 1554-9658
    Keywords: increasing risk ; risk aversion ; non-expected utility
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract The non-expected-utility theories of decision under risk have favored the appearance of new notions of increasing risk like monotone increasing risk (based on the notion of comonotonic random variables) or new notions of risk aversion like aversion to monotone increasing risk, in better agreement with these new theories. After a survey of all the possible notions of increasing risk and of risk aversion and their intrinsic definitions, we show that contrary to expected-utility theory where all the notions of risk aversion have the same characterization (u concave), in the framework of rank-dependent expected utility (one of the most well known of the non-expectedutility models), the characterizations of all these notions of risk aversion are different. Moreover, we show that, even in the expected-utility framework, the new notion of monotone increasing risk can give better answers to some problems of comparative statics such as in portfolio choice or in partial insurance. This new notion also can suggest more intuitive approaches to inequalities measurement.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01098959
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 97
    Electronic Resource
    Electronic Resource
    Government action, biases in risk perception, and insurance decisions (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 93-110 
    Details
    ISSN: 1554-9658
    Keywords: risk perception ; insurance ; moral hazard ; information
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Biases in risk perception potentially have a large effect on insurance and risk-related behavior. The government can alter these perceptions either through informational programs or controlling the risk. Policies that convey a higher risk level generally have the expected effects on insurance and protective actions, whereas efforts that increase the precision of either the government risk information or private beliefs typically have ambiguous effects. In some cases, the structure of how government policies enter the risk-belief function is consequential. Ascertaining the magnitude of the effects, not simply the direction, also is an important issue. For example, misperceptions have a dramatic effect on the tradeoffs between compensating differentials and the size of the loss but a negligible effect on the tradeoff between compensating differentials and the magnitude of the probability.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01098960
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 98
    Electronic Resource
    Electronic Resource
    A comparison of the estimates of expected utility and non-expected-utility preference functionals (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 111-133 
    Details
    ISSN: 1554-9658
    Keywords: expected utility ; non-expected-utility ; experiments ; pairwise choice ; complete ranking
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper extends the literature on the estimation of expected utility and non-expected-utility preference functionals (and the consequent exploration of the superiority of non-expected-utility over expected utility preference functionals) to a comparison of two different ways (pairwise choice and complete ranking) of experimentally obtaining data on such preferences. What is revealed is that the magnitude of the subject error is clearly conditional on the elicitation method used and, rather alarmingly, that the preference functional apparently employed by the subject may also be conditional on the elicitation method.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01098961
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 99
    Electronic Resource
    Electronic Resource
    Functional form problems in modeling insurance and gambling (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 135-150 
    Details
    ISSN: 1554-9658
    Keywords: non-expected utility ; gambling ; insurance ; functional form problems ; risky activities in the national accounts ; state contingent commodities
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Defining the outputs of the property insurance and gambling sectors of an economy has proved to be a difficult problem for national income accountants. It is well known that the traditional expected-utility model is not consistent with economic agents fully insuring their property. Thus the present paper adapts existing non-expected-utility theories to yield useful measures of output for the property insurance and gambling sectors.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01098962
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
  • 100
    Electronic Resource
    Electronic Resource
    Insurance and catastrophes (1995)
    Springer
    The Geneva risk and insurance review 20 (1995), S. 157-175 
    Details
    ISSN: 1554-9658
    Keywords: catastrophe ; insurance ; moral hazard ; copayment ; experience rating ; distribution distortion
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Catastrophes provide a principal justification for insurance. Traditional conceptions of catastrophes miss three critical elements. (1) Many catastrophes-the liability revolution in the United States, for example-are not bolts from the blue. Rather, they develop over many years and result from human activity. (2) Conventional, experiencedbased models for assessing losses often smudge the distinction, so critical for catastrophes, between probability and magnitude of loss. (3) Normal insurance contracts, with heavy copayments for small losses but little charge at the margin for large ones, perform poorly when the insured can tradeoff probability and size of loss-a phenomenon we label distribution distortion. The structures of optimal insurance contracts are assessed.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1007/BF01258392
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
    Paper (German National Licenses)
    Fulltext
Close ⊗
This website uses cookies and the analysis tool Matomo. More information can be found here...